HSBC CHIEF FEARS A DOUBLE DIP

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HSBC chief executive Michael Geoghegan has warned that the global economy could be facing a &ldquo;double-dip&rdquo; recession. Geoghegan said he was not convinced that a second financial downturn could be avoided and had put expansion plans at the UK&rsquo;s largest bank on hold as a result. He said:&ldquo;I&rsquo;m not as convinced we&rsquo;re through the worst as others are. The reality is that profits will be quite reduced.&rdquo;